Obama jobs claims are bogus
Obama and his surrogates like to claim that in spite those pesky Republicans, Obama has presided over the creation of 4.5 million new jobs.
This week in Charlotte, NC, a number of speakers — including the keynote, San Antonio Mayor Julian Castro — touted job growth under President Obama by citing what seems like an impressive figure: “Despite incredible odds and united Republican opposition, our president took action, and now we’ve seen 4.5 million new jobs,” Castro said.
Chicago Mayor Rahm Emanuel, Obama’s former White House chief of staff, cited the same number. “Our economy has gone from losing 800,000 jobs a month, to adding 4.5 million private-sector jobs in the last 29 months,” Emanuel claimed.
But that’s only if you cherry-pick the time frame in question:
Both statements are misleading, though Emanuel’s is more factually grounded than Castro’s. The Chicago mayor is correct, but his decision to focus only on the last 29 months is a deliberate attempt to inflate the president’s record on job creation. Castro’s statement, which did not include a time frame, is even more misleading.
Under President Obama, the U.S. economy has created a net 415,000 private-sector jobs – less than 0.2% of the 155 million-member American workforce. Castro and Emanuel chose the window that they did — beginning in January 2010 — in order to maximize the apparent job growth under Obama.
But it’s worse than that. No doubt, Obama and his surrogates will be claiming that the downtick in unemployment (U3) to 8.1 is some sort of sign that things are turning around. To the contrary, it is a sign that things are getting worse. How?
Unemployment figures are generated by comparing two things—the number of people with jobs and the number of people looking for jobs. If the number of people with jobs goes up, unemployment goes down, and that’s a good thing. If the number of people looking for jobs goes down but the number of people with jobs does not go up, the unemployment number also goes down. In this case, however, it means that people have stopped looking for work because they’ve given up trying. That is NOT a good thing.
And that is what has been happening throughout Obama’s presidency:
The job creation that has taken place during Obama’s presidency has barely even kept up with population growth, and if the labor force participation rate were the same as it was in 2009, the real unemployment number would be closer to 11%.
The Obama Economy isn’t just stagnating. People are actually giving up, going on disability, dropping out entirely. Obama is killing us slowly, all the while claiming he is helping.